Hutchinson Metro Center

A NYCRC-managed entity provided an $80 million loan to help fund the construction of much needed Class A medical office space, retail options, and an extended stay hotel in the Bronx.

The loan was made to an affiliate of Simone Development Companies and funded the construction of an approximately 360,000 square foot office, retail, and hotel complex to support the demand of four surrounding hospitals. The mixed-use development features three floors of Class A medical and office space as well as retail and restaurants. The architecturally distinctive building features a soaring glass atrium and lobby and is set in a landscaped suburban-style campus setting. Retail tenants include LA Fitness, Dunkin’, and Chipotle. The development also includes a 125-room, seven-story extended stay Marriott hotel, one of the first extended stay hotels built in the Bronx in over a decade. The loan also facilitated parking for more than 1,100 vehicles on-site.

The project was part of the expansion of the Hutchinson Metro Center, a 42-acre parcel in the Bronx that underwent a multi-year conversion from low-use industrial space to market rate commercial and office space. The campus is located directly off the Hutchinson River Parkway in the Pelham Bay/Morris Park section of the Bronx. Plans call for connecting the campus directly to the new Morris Park Metro-North station.

“For all too many years, when people mentioned the Bronx, all they thought of was Yankee Stadium, the Bronx Zoo, and the Botanical Garden. Now, in the last few years, when people speak of the Bronx, they speak of the Hutchinson Metro Center, Mercy College, and lots of great doctors.”

– Former Bronx Borough President Ruben Diaz, Jr.